Vertiv Acquires PurgeRite to Expand Liquid Cooling and Fluid Management Services

Milton Street Capital Majority Recapitalizes PurgeRite, LLC

October 4, 2023

HVAC & Mechanical

Milton Street Capital completed a majority recapitalization investment in PurgeRite, LLC, a provider of mechanical flushing and filtration services for water-based HVAC and geothermal systems. GulfStar Group served as exclusive financial advisor; the investment will fund geographic expansion, increased capacity, and investments in people, equipment, and technology to support growth across mission-critical end markets such as data centers, semiconductor fabrication, education, and healthcare.

CMS Nextech (Audax PE) Acquires Aire Rite

January 25, 2023

HVAC & Mechanical

CMS Nextech, a portfolio company of Audax Private Equity, has acquired Aire Rite, a Southern California commercial HVAC and refrigeration services provider. The add-on expands CMS Nextech's footprint in Southern California and brings the combined business to over 1,100 self-performing technicians nationwide, enhancing service capacity for C-store, food service, retail and healthcare customers.

Rite Way Heating, Cooling & Plumbing Acquires Berg's Heating & Air Conditioning (Residential Division)

April 9, 2025

HVAC & Mechanical

Rite Way Heating, Cooling & Plumbing LLC has acquired the residential HVAC division of Berg Enterprises, Inc., which operates as Berg's Heating & Air Conditioning, to expand Rite Way’s presence in Cochise County, Arizona. The acquisition transfers Berg's residential remodel, service, and maintenance business lines to Rite Way while Berg Enterprises retains its commercial and federal operations to focus on B2B construction work.

Veolia North America Acquires U.S. Industrial Technologies

October 31, 2023

Environmental Services

Veolia North America has completed the acquisition of U.S. Industrial Technologies (USIT), a Michigan-based provider of hazardous, non-hazardous and recyclable industrial waste management services. The deal adds USIT's main operations in Livonia, Michigan and an operation in Knoxville, Tennessee, bringing more than 70 employees into Veolia's Environmental Solutions and Services division and expanding its hazardous waste treatment capacity and U.S. market share.

The Gorman-Rupp Company Acquires Fill-Rite and Sotera (Tuthill Division)

June 1, 2022

Manufacturing

The Gorman-Rupp Company (NYSE: GRC) completed the acquisition of Fill-Rite and Sotera, a division of Tuthill Corporation, for $525 million (approximately $445 million net of expected tax benefits). The purchase adds Fill-Rite's pumps, meters and fluid-handling product lines and manufacturing facilities in Fort Wayne, Indiana and Lenexa, Kansas to Gorman-Rupp's portfolio, funded with cash and new debt facilities.

Flow Control Holdings (Edgewater) Acquires Ace Sanitary, Inc.

February 5, 2021

Manufacturing

Edgewater Growth Capital’s portfolio company Flow Control Holdings, LLC has acquired Ace Sanitary, Inc., a Cincinnati-based manufacturer of sanitary and high-purity flexible hose products marketed under the Flex-Rite and Seal-Rite brands. The add-on expands Flow Control Holdings' engineered flow-control product offering and strengthens its presence in the food & beverage, dairy/cosmetic and pharmaceutical end markets.